Synergy Pharmaceuticals Inc fka SGYPQ

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Synergy Pharmaceuticals Receives Court Approval for the Sale of Its Assets to Bausch Health

NEW YORK, March 1, 2019 /PRNewswire/ -- Synergy Pharmaceuticals Inc. (NASDAQ: SGYP) (the "Company" or "Synergy"), a biopharmaceutical company focused on the development and commercialization of novel gastrointestinal (GI) therapies, today confirmed that the previously announced agreement with Bausch Health Companies Inc. has been approved by the Bankruptcy Court. The sale of Synergy's assets, including all rights to TRULANCE(R) (plecanatide), dolcanatide and related intellectual property, is now expected to close on or about March 5, 2019.

Synergy on December 12, 2018, initiated voluntary proceedings under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of New York to facilitate a sale and address its debt obligations. Additional information about Synergy's Chapter 11 cases can be found at https://cases.primeclerk.com/Synergy.

Synergy is advised in this transaction by Skadden, Arps, Slate, Meagher & Flom LLP, Sheppard, Mullin, Richter & Hampton LLP, Centerview Partners, FTI Consulting, and Togut, Segal & Segal LLP.